Asia: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Asia

The Asian monoammonium phosphate market stood at $X in 2023, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2023 and is expected to retain growth in the near future.

Monoammonium Phosphate Production in Asia

In value terms, monoammonium phosphate production rose rapidly to $X in 2023 estimated in export price. The total production indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Monoammonium Phosphate Exports

Exports in Asia

In 2023, approx. X tons of monoammonium phosphate (MAP) were exported in Asia; increasing by X% on the previous year's figure. Overall, exports posted a strong expansion. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, monoammonium phosphate exports contracted rapidly to $X in 2023. Over the period under review, exports showed strong growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then reduced sharply in the following year.

Exports by Country

In 2023, China (X tons) was the largest exporter of monoammonium phosphate (MAP), mixing up X% of total exports. It was distantly followed by Saudi Arabia (X tons), committing a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%).

In value terms, China ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of exports in 2023.

Among the main exporting countries, Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, which is down by X% against the previous year. Overall, the export price, however, recorded a slight increase. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced markedly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while China amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%).

Monoammonium Phosphate Imports

Imports in Asia

In 2023, the amount of monoammonium phosphate (MAP) imported in Asia contracted dramatically to X tons, waning by X% on the year before. Total imports indicated a slight increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The volume of import peaked at X tons in 2022, and then reduced markedly in the following year.

In value terms, monoammonium phosphate imports fell sharply to $X in 2023. In general, imports, however, enjoyed a measured expansion. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then reduced sharply in the following year.

Imports by Country

India was the main importing country with an import of around X tons, which amounted to X% of total imports. It was distantly followed by Turkey (X tons), Japan (X tons), Malaysia (X tons) and Indonesia (X tons), together committing a X% share of total imports. Vietnam (X tons), Uzbekistan (X tons), Azerbaijan (X tons), Taiwan (Chinese) (X tons), Bangladesh (X tons), Israel (X tons), Kazakhstan (X tons) and Thailand (X tons) followed a long way behind the leaders.

India experienced a relatively flat trend pattern with regard to volume of imports of monoammonium phosphate (MAP). At the same time, Uzbekistan (X%), Azerbaijan (X%), Kazakhstan (X%), Israel (X%), Turkey (X%), Malaysia (X%), Indonesia (X%) and Bangladesh (X%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Vietnam (X%), Japan (X%) and Thailand (X%) illustrated a downward trend over the same period. Turkey (X p.p.), Uzbekistan (X p.p.), Azerbaijan (X p.p.), Malaysia (X p.p.) and Kazakhstan (X p.p.) significantly strengthened its position in terms of the total imports, while Vietnam, India, Japan and Thailand saw its share reduced by X%, X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Turkey ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports. Malaysia, Indonesia, Vietnam, Uzbekistan, Azerbaijan, Taiwan (Chinese), Israel, Bangladesh, Kazakhstan and Thailand lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Uzbekistan, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the import price, however, posted a slight expansion. The growth pace was the most rapid in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then fell dramatically in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Turkey ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform